Do I Need Probate if the Only Asset Has a Beneficiary? | NC

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Q: Do I need to open a probate estate if the only asset is a retirement account with a beneficiary designation? A: Usually no — if the retirement account has a valid beneficiary designation and that beneficiary is living, the account usually passes directly to that person and does not go through probate. Probate is more likely only if there is some other asset owned in the deceased person's name…